Given the following: Question 1 Not yet answered Points out of 3.00 Increase in Prepaid Expenses Decrease in theamed Revenue Increase in Accrued Expenses Cash pad for expenses $4 57 50 350 Flag question What is accrual-basis expenses? Select one: b. $63 c. $55 d. 852 $37 Venice Corp. maintains its accounting records on the cash basis but restates its financial statements to the accrual method of accounting, Venice had $120,000 in cash- basis pretax income for 2018. The following information pertains to Venice's operations for the years ended December 31, 2018 and 2017 Question 2 Not yet answered Points out of 3.00 2018 Accounts receivable Accounts payable 560,000 30.000 2017 $40.000 20.000 Flag question Under the accrual method, what amount of income before taxes should Venice report on its December 31, 2018 income statement? Select one: a $150,000 b. $90,000 O c. $130,000 ed. $110,000 $190,000 Cleamy choice